Completely impossible. Even says in the article "It's a far- fetched possibility." - which means its BS.
AMD is doing just fine, their GPUs are thriving in the midrange and the Bobcat-based netbooks and systems that had been released recently have been well-received and vastly outperform Intel's Atom-based equivalents. This article has to be a sham

Even if AMD decided to sell instead of toughing it out, I really don't see Dell being the one to buy them. Still, the chance of AMD selling instead of trying to fix their company? Maybe they'll sell a very small portion to free up cash to focus on more profitable areas?